If your job involves receiving tips from random customers, the struggle lies on whether or not your tips are taxable. You might have even wondered if it even makes sense to file taxes for something that has been given to you wholeheartedly. Here are some questions that you might have when we talk about filing […]
How To Check Your Tax Refund Status Online (and Trace Your Refund)
Over 145 million tax returns were received by the Internal Revenue Service in 2017. More than 108 million refunds were issued, with the average refund totaling $2,782. That’s a decent amount of money that you could use to pay down debt, build your emergency fund, pay for a major home renovation or cover other expenses. But, one of […]
Want to Save Thousands on Your Mortgage? Here’s How
Chances are, you wouldn’t buy an airline ticket without looking at a few websites to see if you could find a better deal. Yet when it comes to getting a mortgage loan, most consumers may not bother shopping around. But according to recent research from Freddie Mac, the average borrower could save about $1,500 just […]
How Much Does the Average American Pay in Taxes?
It seems like a simple question to answer, but in the U.S., the progressive tax system makes it difficult to pin down an “average” taxpayer. Tax brackets range from 10% to 37% as of 2019, and there are seven of them, so the “average” tax rate might be expected to be something like 24.57%.1 And […]
Best Places to Keep Your Emergency Fund
Having an emergency reserve of cash you can rely on can make dealing with life’s rainy days easier. Whether it’s an unexpected home or car repair, or a visit to the vet or doctor that was unplanned, your emergency fund can help cover the cost, but where should you keep your emergency savings? You could stick it […]
What to Do When Your Bank is Acquired
Bank mergers are more common than most people think. According to the Federal Reserve, there were 274 bank merger requests in 2019. Banks are acquired by other banks for a variety of reasons, including a desire to scale a business, owners retiring, and cost efficiency. Just because your bank is being acquired doesn’t mean you need to […]
How to Find a Mortgage Broker or Bank Loan Officer for Your Home
If you feel you are ready to buy a home, chances are you’ll need a mortgage, but did you know there are big differences between mortgage brokers and bank loan officers? Difference Between a Bank Loan Officer and Mortgage Broker The difference between a bank loan officer and a mortgage broker is as follows: Bank Loan […]